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For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today.
By law, the dollar amounts for a variety of tax provisions, ...

Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2012 and the years ahead, according to the Internal Revenue Service.
The saver’s credit helps offset part ...

Question: What is the basis of property received as a gift?
Answer:
To figure the basis of property you receive as a gift, you must know 3 amounts:
The adjusted basis to the donor just before it was given to you.
The fair ...